Congressional Report Says Equifax Breach Was Preventable and other Digital Transactions News briefs from 12/11/18

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  • Cloud-based point-of-sale system maker ShopKeep said it closed a $65 million funding round, led by Tribeca Venture Partners, that it will use for expansion and growth purposes. New investors include First Data Corp. and Salesforce Ventures.
  • A staff report released by Republicans on the U.S. House Oversight and Government Reform Committeesays the huge 2017 data breach at credit-reporting agency Equifax Inc. was “entirely preventable.” The report, based on the panel’s 14-month investigation and more than 122,000 pages of documents, makes seven recommendations, including possible added oversight and enforcement authority for the Federal Trade Commission, but does not propose federal data-security legislation.
  • POS system provider POSaBIT Inc. announced a Washington state cannabis merchant, Trove, is the first to use POSaBIT’s integrated POS and payments platform.
  • Gateway provider USAePay added the Castles Technology Co. Ltd.’s Vega3000 point-of-sale terminal to its roster of compatible devices.
  • Net Element Inc. launched the Netevia Light POS payment-acceptance app that will be bundled with two Pax Technology POS terminals.
  • The U.S. Payments Forum released its quarterly market snapshot that indicates 99% of the top 200 retailers are chip-enabled. Chip-on-chip transactions, when an EMV chip card is used at a chip-enabled POS terminal, make up 60% of overall U.S. transaction volume, the Forum said.
  • EVO Payments Inc. announced that its eService Sp. z.o.o. subsidiary will work with Posnet Sp. z.o.o. to offer point-of-sale services to merchants in Poland.
  • BitPay said OneGold, a marketplace to buy, sell, and redeem digital gold and other precious metals, now accepts Bitcoin and Bitcoin Cash.
  • Payments provider Nuvei, formerly Pivotal Payments, named Scott Calliham senior vice president for mergers and acquisitions and strategy. Calliham comes to Nuvei from First Annapolis Consulting, now part of Accenture. He had been an executive at Bank of America Merchant Services prior.
  • Payments provider National Merchants Association named Barry Prentice vice president of risk and underwriting. Prentice has more than 15 years of experience in the industry.

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